Construction of a business framework based on synergies in international corporate sphere

Abstract

The paper develops and proposes a strategic business framework (model) based on synergy effects of the most frequently used business models within selected management systems. The main assumption is that the proposed comprehensive strategic framework shall be designed to address particular needs of each company in order to stay effective in future and improve overall performance including identification of main weaknesses and taking corrective measures. After reviewing and analysing selected business models that have been identified in research as well as practitioner-oriented journals of leading management and business spheres available within the Thomson Reuters's Web of Science electronic database, a list of general characteristics of essential business elements important for each company to be installed into its business model is defined. A focus is laid upon those business models and their elements that have seemed to gain attention by a large number of companies all over the world so far and have been used frequently. These companies do not usually copy or imitate a business model that has proved to become successful elsewhere. They usually create its particular business model having a clear strategy on which elements should be embedded in it. The majority of successful companies use components within their business models that influence overall high performance, and, therefore, they are analysed in detail in order to serve as a basis of a construction of proposed business framework. All the requirements of enterprises are included in the framework that is designed to support companies in reviewing their performance measurement and management systems and enabling their effective use. Companies may use it to evaluate and improve their performance and through its easy application they can support continuous improvement of their performance management and measurement practices. The paper concludes by noting the limitations of the research and suggesting areas for further research.